- The Crisafulli Government’s primary producer productivity loans are delivering sevenfold economic returns for regional Queensland communities.
- Independent report finds every $1 million in First Start Loans and Sustainability Support Loans supports $6.7 million in regional economic impacts.
- Beef and sugarcane industries were found to deliver the largest economic returns.
- The Crisafulli Government is delivering better services through a stronger economy after the former Labor Government deserted regional Queensland.
The Crisafulli Government’s productivity loans for primary producers are delivering sevenfold economic returns to regional communities across Queensland, an independent economic impact report has found.
Every $1 million in loan funding provided to a primary producer through the Queensland Government’s Primary Industry Productivity Enhancement Scheme supports $6.7 million in regional economic activity over the life of a typical loan.
The Queensland Rural and Industry Development Authority commissioned an independent review of the scheme to deliver the inaugural Primary Industry Productivity Enhancement Scheme Regional Economic Impact Report 2024-25.
The independent report measured both direct and flow-on economic impacts of on-farm investments funded under the Scheme and found that the loans supported direct economic contribution of $315.3 million in gross state product (GSP) and 2,715 full-time equivalent jobs.
The largest economic impacts were linked to beef and sugarcane production, followed by grain and livestock, horticulture and other farming and aquaculture.
Additionally, the benefits were strongest in regions with high agricultural activity, particularly Southern Coastal – Curtis to Moreton, Northern Coastal – Mackay to Cairns, Western Downs and Central Highlands.
Loans funded under the Scheme include First Start Loans of up to $2 million to help up-and-coming producers get started and grow operations, and Sustainability Loans of up to $1.3 million for existing primary producers to improve the productivity and profitability of their farm businesses.
The former Labor Government neglected regional Queensland during their decade of decline, whereas the Crisafulli Government is backing regional and rural communities.
Minister for Regional and Rural Development Dale Last said the Report highlighted the significant benefits loans were having across regional Queensland.
“This independent report has detailed the far-reaching economic impacts our primary producer productivity loans are having across the state, from employing more Queenslanders to the flow on effects for regional schools and hospitals – it’s a positive sign for growth in our regions,” Minister Last said.
“Queensland was built on the back of agriculture and these loans are helping to supporting not just individual farmers, but the broader communities in which they live and operate.”
Minister for Primary Industries Tony Perrett said the impact of the loans reflected the Crisafulli Government’s ongoing support for Queensland’s primary producers.
“We know when Queensland’s agricultural industry prospers, regional Queensland succeeds and these loans are clear evidence of the flow on impacts our state feels from a thriving agricultural industry, Minister Perrett said.
“By delivering productivity loans to our primary producers, we’re continuing to work towards our ambitious goal of growing Queensland’s primary industries production to $30 billion by 2030.”
Queensland Rural and Industry Development Authority Chief Executive Officer Brooke Irwin said the independent report measured both direct and flow-on economic impacts of on-farm investments funded under the Primary Industry Productivity Enhancement Scheme.
“We already have the data to show First Start Loans and Sustainability Loans are instrumental in helping Queensland primary producers get started and grow their operations, with more than $1.2 billion invested in farm businesses for over 30 years,” Ms Irwin said.
“Now this report demonstrates that when Queensland Rural and Industry Development Authority funds a farmer on the land, we also help support rural and regional towns as farmers invest in necessities like machinery, fuel and freight and create jobs locally.
“This direct spending and employment multiplies all the way through to schools, hospitals and local businesses.”
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